The CEO of Oura has suggested Apple won't make a smart ring to compete with the best smart rings in case it undercuts sales of the Apple Watch. Furthermore, he suggested that it's "hard to do this product category right."
Speaking in an interview with CNBC, Tom Hale explained that he believes Apple's top brass will be "unconvinced about the value of having a ring and watch together," and "they’re probably keeping a close eye on Samsung and a close eye on us."
Oura has been developing smart rings since 2013 and recently unveiled it's latest wearable, the Oura Ring 4. The company has been somewhat uncontested in the smart ring space by the big tech brands until Samsung unveiled the Galaxy Ring earlier this year.
Meanwhile, Apple has made constant strides to improve the fitness and sleep credentials of the Apple Watch. Within watchOS 11, Apple launched Vitals — basically the iOS Health app but on your wrist. As you continue to wear your Apple Watch on a daily basis, You’ll be able to see how different markers (ie. activity, sleep, heart rate) are impacting your health. Which is a lot like what Oura offers with its Readiness score.
It's understandable that Apple wouldn't want to compromise this; so Hale's argument does have some merit. Furthermore, Mark Gurman of Bloomberg,landed on the exact same argument in his Power On newsletter last month.
"Apple isn't actively developing a ring and has no plans to launch one," he wrote. "[because it] would detract from the Apple Watch."
However, rumors persist that Apple is investigating the possibility of launching a smart ring. Allegedly, Apple even sent out surveys to employees in September that teased the smart ring's existence.
So, will we see an Apple Ring in the near future or not? It's possible only Tim Cook knows the answer to that — but we'll keep monitoring the rumor mill for any new Apple Ring leaks, just in case.
